Q3 Newsletter 2025

• Two Bills, One Big Step for ESOPs
• Valuing Bitcoin
• M&A Reference Guide for Selling a Business
• Valuation Dispute Hinges on GAAP vs. Legal Claims in M&A Deal
• Valuing Startups in Today’s Environment
• The Test For Fairness (According to the DE Supreme Court)
• Determining Earnouts
• Investing in Reputation
• Court Rejects Damages Models in Smear Campaign Case
• VMI Highlights

12VMI Newsletter – 3Q 2025